
Costco Wholesale Corporation reported its fiscal second-quarter earnings, revealing a mix of outcomes that drew significant market attention. Despite posting quarterly sales close to $60 billion, the company missed revenue expectations with a figure of $58.4 billion versus the anticipated $59.2 billion. This discrepancy was attributed to slowing discretionary spending among consumers. However, Costco outperformed earnings estimates, reporting a Non-GAAP EPS of $3.71, which beat expectations by $0.07, and a Q2 EPS of $3.62 versus the expected $3.60. The company's stock experienced volatility, opening at new all-time highs before the earnings announcement but subsequently dropping approximately 4% in after-hours trading. Analysts had adjusted Costco's price targets ahead of the earnings release, focusing on earnings and member fees. The retailer's decision not to raise its membership fee was met with disappointment from some analysts, despite the company's continued growth, including a 6% year-over-year increase in revenue and a significant expansion in its e-commerce segment, highlighted by an 18.2% increase. Costco's physical footprint also grew, with 875 warehouses operational, marking an increase of 27 from the previous year. Amidst the financial results, Costco announced it would maintain the price of its iconic hotdog at $1.50, a move likely to please its customer base.

















ā ļø COSTCO STOCK SET FOR WORST DAY IN NEAR TWO YEARS ON QUARTERLY REVENUE MISS Full Story ā https://t.co/4CfrZ6m3jW Costco's shares were down over 7% on Friday and set for its worst day since May 2022 after the membership-only retail chain missed second-quarter revenue⦠https://t.co/byyRWRzG7A
Costco is now selling packs of one-ounce silver coins, priced at $625 for 25 coins. Its CFO said that sales of the coins and Costcoās 24-karat gold bars had led its e-commerce growth. https://t.co/MNnDReNuHQ
Costco is now selling silver coins ā but some customers have complaints https://t.co/0rrLrtlZz3